Sydney is the most populous city in Australia, with a metropolitan area population of 4,119,190, and 151,920 in the City of Sydney, as of the 2006 census. Sydney is the state capital of New South Wales, and is the site of the first European colony in Australia, established in 1788 at Sydney Cove by Arthur Phillip, leader of the First Fleet from Britain. A resident of the city is referred to as a Sydneysider.
Sydney is located on Australia's south-east coast. The city is built around Port Jackson, which includes Sydney Harbour, leading to the city's nickname, "the Harbour City". It is Australia's largest financial centre and the economic capital, home to many national headquarters of corporations, including the Australian Stock Exchange. Sydney's leading economic sectors include property and business services, retail, manufacturing, tourism and health and community services.
Sydney is a major international tourist destination, often referred to as the international gateway of Australia, and is notable for its beaches and twin landmarks: the Sydney Opera House and the Harbour Bridge. The metropolitan area is surrounded by national parks, and contains many bays, rivers and inlets. It has been recognised as a global city by the Loughborough University group. The city has played host to numerous international sporting events, including the 1938 British Empire Games, 2000 Summer Olympics and the 2003 Rugby World Cup. In 2008, Sydney will also host the 23rd Roman Catholic World Youth Day.
Sydney is one of the most multicultural cities in the world which reflects its role as a major destination for immigrants to Australia. According to the Mercer cost of living survey, Sydney is Australia’s most expensive city, and the 21st most expensive in the world.